Novak Company sells 8% bonds having a maturity value of $1.430,000 for $1,321,582. The bonds are dated January 1,2020 , and mature January 1, 2025. Interest is payable annually on January 1. (a) Determine the effective-interest rate. (Round answer to 0 decimal ploces, eg. 18x) Set up a schedule of interest expense and discount amortization under the effective-interest method, (Round intermediate calculations to 5 decimal ploces, es. 1.25124 and final answer to 0 decimal ploces eg. 38,548.)